is it too good to be true, page-65

I thnk the market is waiting for the devil in the detail.

By the end of the year CVI may have 1.3 billion shares with $170m in deferred debt for an asset that will not be used until mid 2010 that is even yet to be constructed.

When you toss in the Virgin Islands and a placement at 110% premium to current prices, I suggest many question the real asset value of the refinery and for that matter, CVI, especially when their primary source of funds have been drastically selling down at current prices.

Plus, they have only under $200,000 in the coffers atm plus yesterday CVI stated "the funding of CityView’s other projects through Pensador Resources Inc and eventual merger will continue as planned, independent of the financing announced here." How could this be?

The resolutions will be intriguing at the EGM IMO as corporate trasparency amounts to zilch atm. Are the mooted new Board members independent?

Where did all of the 07/08 placement cash go?

If nothing else, this one is entertaining.